Navigating the Markets with Fibonacci ChannelsToday we delve into the fascinating world of Fibonacci Channels, a powerful tool for traders looking to identify potential non-horizontal support and resistance levels in the market.
Throughout the video, we provide a step-by-step guide on how to place Fibonacci Channels on price charts, allowing you to visualize and understand their significance in identifying key price levels. We also showcase real-world examples to demonstrate how Fibonacci Channels can be used to find points of interest, such as trend reversals and price targets.
Furthermore, we discuss the integration of Fibonacci Channels with other technical indicators, providing insights into how this combination can enhance your trading strategy. By the end of this video, you will have a comprehensive understanding of Fibonacci Channels and the ability to confidently incorporate them into your trading approach. Get ready to unlock the potential of Fibonacci Channels and take your trading skills to the next level!
Fibsdontlie
This FIB settings work for me 8/10 of the timeI've been using Price action and SnD levels to scalp / day trade for the past 6years, and FIbs are one of my favourite tool to use on the Day and 4 hour time frame , to gauge the possible short term movement.
Fibs Values: Only the first 5 boxes, right and left
1st pair: 0 <> 0.236
2nd pair: 0.382 <> 0.618
3rd pair: 0.764 <> n/a
4th pair: 1 <> -0.25
5th pair: -0.618 <> 0.5
Feel free to copy my Fibs values. Match it to the fibs on the OKBUSDT chart to check for accuracy. Let me know in the comment if it works for you as well!
Happy trading!
XAUUSD to 2032? (BREAK EVEN)H4 88.6 Respected. DXY is still bearish, hopefully, we see these upside targets get met. Happy trading!
USOIL TO 83.50Gaps don't always have to be fulfilled; trapping retail sellers. (I was one prior to this OB being filled) Happy trading everyone
CHFJPY IS A LONG TERM SHORTReasons for this trade:
1. It broke the trendline confirming a reversal for the downtrend
2. Its currently at a zone (78.6 - 88.6)
3. As long as it doesn't break the last high ( at the 100%) then this will be a nice bearish move
AUDNZD For future short1. Big break of Trend to the downside
2. Currently retracing to our entry area
3. Look for short around the 50% area
CHFJPY GOING TO A SHORT1. This pair broke trend via the trend line break
2. It created both swing points to place the fibs in a down trend
3. Patiently wait for entry in the yellow zone
4. I see a nice flip zone at the black zone.( An area in the market where it was once support and resistance)
messing around with circles & fibsMainly experimental 👽
Using 20/07 swing low and daily PA prior to that date, start determining the circles levels (roughly 9 11 18 24 28 32 34 38 50 54 56 59 61, totally eyeballed that)
The goal is to see if this circles are still relevant on the other half !
Let's wait couple of years and see how it evolves.
API3 Retracement IncomingSo I have been been diamond handing an API3 trade with an avg of $7.3 for this entire month , In reality I should've sold earlier, and would've had plenty opportunities to lower my cost average and would've probably been in profit by now but sometimes that's what happens when you've bought the dip and but the dip keeps dipping, now it seems like the most of the pain is gone and API3 is retracing.
I am looking to lower my cost average by playing this 0.236 level as resistance I sold at $6.2 and buying back in at the 0.0 fib level around $5.3, I have pointed out on the chart a similar structure in the previous retracement. I sold about 40% of my position and if this works I would lower my cost average to ~ $6.4.
I wish I had the balls to sell my entire position to buy back in lower but if someway somehow this rallies even more I would've hated myself for not hedging my risk and taking a 15% loss
Interesting Fibonacci layout Seems like API3 might be following these fibs, if bulls pull trough I think we can go up to around 9 before another retracement - or it could just all go down and completely invalidate the structure, just putting this out there.
Next stop for API3? GEMINI:API3USD
What do you think of overlaying fibonacci as such ?
I often use this and many other variations to find confluence areas.
CADJPY Sell All together its a downtrend contraction to the low side and im pretty sure its just filling this intrest point so that it may continue down to at least head to the daily zone low to take liquidity
CHFJPY SELLCHFJPY SELL Market Execution
Also another entry at the weekly resistance
its currently rejecting in my conviction zone on the smaller fibs (the grey top zone)
if it breaks the lower grey zone, look for continuation for the drop or add another entry
if you want to learn more on FIBONACCI dm me "FIBWORK" on IG: wynneinspired
EURUSD BUY NOWEURUSD
Market execution Buy
Rejection in my buy zone (yellow area)
More wicks rejections the 50% or 618% gives another confirmation to buy
USD JPY 27 - July - 2021
USD JPY SHORT
Trade it based on what market will do next hours
I used 100 MA and 3 MA to define the trend on daily chart.
I used fibs from lowest point after trend changed to see the levels
On daily/ weekly/ monthly chart I identify " Bearish Harami " that indicate me a possibility of trend change .
Bearish scenario :
I aim for the lowest price of the month
If current 4 H candle will close under 110.000 I will go short using following entry price, stop and TP
I will entry at 109.980
My SL is @110.230 that's 250 Pips lose
My final TP is @ 109.083, that's a 897 Pips gain
Overall I have 3.59 R/R
After price hit at least 1-1 R/R, I move SL to entry point so I will limit any kind of loses.
EURGBP SWING FOR THE BUYON THE 1HR TIMEFRAME
PLACED FIBS FROM SWING LOW TO SWING HIGH WHICH GIVES THE BUY SETUP
WAIT FOR ENTRY AT THE BLUE LINES WHICH IS YOUR ZONE TO BUY FOR CONTINUATION
IT REJECTS OFF THE 618 PERFECTLY
GBPJPY - Sell (15 min) Election week, missed trade I go in detail on the chart. We see price break a lower high and a lower low on three 15 min candles, aka meaning its a strong move which you can run your fibs on. Found great confluence.
GBPJPY - Sell (15 min) Election week (missed trade)I go in great detail on the chart. This was a EMA cross, first bounce trade.
GBPUSD - Sell (15 min)I go in detail on the chart as to why I believe price will sell.
STRONG support and resistance on 4 hour, daily, weekly and monthly.
4 hour and daily also show us that price is currently in a down trend according to EMA lines and price direction (trend).
EURUSD - Sell (15 min) missed trade Began as a EMA cross first bounce trade, turned into a fib layout break trade.
I go in detail on the chart on different confluence points.
GBPJPY - Sell (15 min) missed tradeEMA cross first bounce trade
Price consolidated, EMAs crossed, price broke to the down side.
137.200 is an institutional level, sitting in between our entry zone.
4 hour also uses 137.200 as a S/R price
Remember we're looking for confluence on all time frames
XAUUSD - Sell (15 min) missed tradePrice consolidated then broke to the down side. EMA lines on 15 min eventually crossed. Simply ran our fibs and waited patiently.
We find confluence in that the yellow line is an institutional line and also a S/R area on the 4 hour.
Price was also approaching a 62% short on the 4 hour.
US30 -Buy (missed trade)I go in great detail on where the confluences with this entry were at on the chart.
